American Express reduces Biz Plat point redemption rebate to 35%
Last year, American Express launched a benefit wherein you could redeem your Membership Rewards points for revenue travel and get 50% of them rebated back on any airline’s 1st or Business class ticket or on your chosen airline in coach.
They have just announced that they are reducing this benefit to just 35% hammering away at this card’s best benefit just after increasing the annual fee to $550.
Still if you earn a bulk of your points with purchases over $5,000 you are still getting 1.5x MR on those purchases and redeeming for around a cent and a half (instead of 2) and still giving you an effective 3% cashback. But you first have to absorb the $550 annual fee, so unless you are getting a big signup bonus or spend a ton on the card, it may not be worth it.
Interestingly, I was *thisclose* to finally adding this card to my wallet for exactly this feature. I do still have until May 31, 2017, though, to apply and get the benefit for one year. Maybe if there’s another 100k MR signup offer before then….